The folks in the Obama administration may be unable to run a health-care Web site, but they’re brutally determined and efficient when it comes to squashing those who oppose their policies — as Jamie Dimon is finding out.

Today the JP Morgan chief executive could be putting the final touches on a deal with the Obama Justice Department that would make Don Corleone proud. For various alleged financial “crimes” involving the sale of fraudulent mortgages, the nation’s largest bank is slated to fork over $13 billion, admit some culpability and prepare for a barrage of lawsuits from Wall Street ambulance chasers.

In one fell swoop, President Obama has made up more than half of the $24 billion cost of the government shutdown.

But the story doesn’t fit the typical narrative of fat cats who do bad stuff having to pay for their sins because the allegations against the bank are so warped.

The crimes that were committed occurred largely at banks that JP Morgan took over, at the behest of the government, during the 2008 financial crisis. Most of the other stuff the bank is accused of involves mismanagement, not out-and-out investor rip-offs of the Bernie Madoff variety.

No, Dimon’s real sin, as I’ve pointed out on these pages before, was his withering critique of the Obama economic agenda, which he said was holding back the US economy.

For a while, Dimon (a longtime Democrat) was a rarity in Corporate America in that he refused to be cowed by the Washington political class and keep his mouth shut in the face of the absurdity this administration was administering to businesses in the form of taxes, regulation and now a new health-care system where even something as vital as designing a workable Web site to sign up new recruits doesn’t work.

By speaking out, Dimon became de facto public enemy No. 1.

Sure, some of his wounds were self-inflicted. He initially downplayed a large trading loss the bank had in London, only to have it turn out to be much more costly and not just from a financial standpoint.

By calling the London Whale loss a “tempest in a teapot,” he gave his adversaries just the opening they needed to launch their broader assault on the bank and Dimon himself.

As big as it is, the size of the deal (which could be announced as early as today if talks don’t break down) doesn’t quite describe the damage inflicted on the bank and the banking business by the government’s assault. Dimon has been effectively neutered as a spokesman for the banking industry on ills of over-regulation such as the Dodd-Frank law, which he once called “downright idiotic.”

Meanwhile, Attorney General Eric Holder has refused to end all the investigations into JP Morgan, including a criminal one in California — a sign he’s looking to extort more money from the bank.

And Holder’s demanding some sort of concession of guilt from the bank, which is basically a multibillion-dollar gift to the administration’s buddies in the trial bar, who are waiting anxiously to see exactly how much the bank will be forced to ’fess up to before their lawsuits start to fly.

In other words, the shareholders of JP Morgan are subsidizing Wall Street ambulance chasing.

But why would Dimon, hailed only a couple of years ago as the one bank CEO who navigated successfully through the financial crisis, be willing to give away so much? The short answer is he has no choice; both his job and JP Morgan’s survival are on the line.

While Dimon may not have to step down completely, every top Wall Street executive I speak to says it’s a good bet that he’ll give up the role as bank chairman, a weakening of his stature that the Obama crew will love to see.

Another good bet: Under the regulatory barrage, JP Morgan will also be shrinking its massive size and clout in the markets much more than the small steps already announced.

This wouldn’t be so bad if it were part of a concerted effort to make the big US banks less complex and easier to manage. But it’s not; the administration would also love to hand JP Morgan’s clout to friendlier fat cats like those running Citigroup or Bank of America.

Friends of Dimon I speak to say they can’t believe he’ll take much more of the abuse; he doesn’t need the money and would love nothing more than to become a college professor. Maybe he can teach a course in what it’s like to be extorted.

We all heard Charles Gasparino's racist comments on fox news yeaterday. Another big mouthed racist mentioned that Latinos get extra points on SAT. You conveniently forgot to mention those are for non citezens. As an American Latino there is no such system. It is for people who do not understand the language and for non citezens, not for American latinos. Whats the matter charles, are you another italian american racist like the rest in your small minded little culture who dont like latinos. We are sick and tired of these pizza sniffing speghetti eating racist big mouths. We have all been in a room with an italian who as soon as a black walks out of a room, he is the first one to make racist comments behind their backs. This is probably because of their insecurities regarding their lack of intelligence as a culture. Everyone knows the italian americans have become the biggest racist group and when they are not backstabbing and ratting on eachother, they backstab and try to put down all others who challenge them. Your culture is a racist breed with your best days behind you. Everyone now knows what you are all about. Gat Your Facts Straight Gasperino!

Whether Gasparino is "a paid hack" of the Fox Network doesn't change the fact that the so-called "crimes" were committed BEFORE the U.S. government begged J.P.Morgan to take over these failed institutions. Oh, correpondent is spelled with two "r" s and "whatsoever" is one word.

Capitalism also means saying no to purchasing wamu based on the economic advantages/disadvantages for your shareholders. Please,no one held a gun to his head. He saw the upside in the money to be made here, dont make this man out to be the fall guy. I'll give him credit for a good public relations team because the fact that this absurd article is even being published is in itself a public relations miracle.

This is the dumbest Post article I have read in a long time! JP Morgan got fined because it broke the law. That is all there is to it. Now go take your right-wing blubbering and whining to the pee-party!

Using & abusing the DOJ to intimidate the media(Rosen case) & for revenge & extortion(Dimon for his criticism of Obamanomics) is right up there with the use & abuse of the IRS of Obama opponents & the use & abuse of the NSA to snoop & report on Obama enemies.

Instead of using the Government & laws to make sure the Country is running right, Obama et al are using the laws as a scythe to destroy their enemies.

@Annie Sez actually, this drivel is not an "article" in any journalistic sense what so ever. It is an "opinion piece" by Charles Gasparino, who is a senior "corespondent" for the Fox Business Network. In other words a paid hack and mouthpiece of Wall Street. That is all.

@vienna11215 . What exactly are you denying? Hank Paulson is on record as saying JP Morgan was begged by the government to buy WaMu and Bears Stearn. Course Obama is too near sighted to realize that banks in the future will refuse to buy such institutions knowing that Obama will just punish them later.